New agreement doubles Accor's portfolio in Japan
The agreement will double Accor's current portfolio in Japan, adding 23 properties and over 6,000 rooms. Conversion of the hotels will occur throughout 2024, after which the properties will operate under the aforementioned Accor brands.
"By rebranding, we will be able to provide our customers with various allures and memorable travel memories," says Koji Mayanagi, Daiwa Resort Co., Ltd. President & CEO.
Recovery in Asia 'fuelling' Accor's ambitions
With travel and tourism surging once again on a global scale, countries such as Japan, Singapore, Vietnam, and surrounding regions such as China, are experiencing a significant influx of foreign travelers, as well as increasing domestic demand for business and leisure travel experiences.
The recovery of Asia "is fuelling our ambitions as we seek to offer travellers a deeper and more diverse range of hospitality experiences across the region," says Jean-Jacques Morin, Group Deputy CEO and CEO Premium, Midscale & Economy Division, Accor.
Over the past decade, Accor has shifted from being asset-heavy to becoming an agile, asset-light company growing our hotel portfolio by 50% and tripling our brands. Now, with a resurgence of demand to serve as the wind beneath our wings, we will guide these brands to new heights, with more density, presence, and scale than ever before," he adds.
Accor to debut new flagship properties across Asia
Accor will also debut several new flagship properties in the region over the coming years, demonstrating the diversity of the Group's expanding network in Asia Pacific.
The new openings include:
- Pullman Singapore Hill Street - described as "an architectural masterpiece augmented with smart technology and a rooftop bar" that will open later this year.
- ibis Styles Bangkok Twin Towers -the largest ibis Styles property in the world opening in 2024, featuring the brand's creative, playful and family-friendly approach.
- Novotel Nara - opening in 2024, bringing the midscale hotel brand to this richly historic area of Japan, just 45 minutes south of Kyoto.
- Fairmont Hanoi - opening in 2025 in Vietnam, blending one of the world's most celebrated luxury hotel brands with authentic Indochinese style and the vibrant local culture.
- Mondrian Singapore Duxton - opening this year, bringing the brand's signature blend of art, glamour, and culinary flair to one of Singapore's most desirable neighbourhoods.
- Fairmont Tokyo - slated for an opening in 2025, will feature 219 guestrooms and views of Tokyo Bay.
Accor to seek conversion opportunities for further growth in Asia Pacific
Historically, Thailand and Indonesia have been areas of strength for Accor and where the company will continue to push forward with new development opportunities. Vietnam, Philippines, and Japan are also markets of significance that Accor has identified for growth opportunities in the future.
Accor says it will continue to "seek out" large scale opportunities exploring more conversion opportunities with its brands - including Pullman, Novotel, ibis, ibis Styles, Mercure, Grand Mercure, Mövenpick, greet, and its newest addition, Handwritten Collection - designed to be conversion friendly.